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Tag: fiat

Bank of Finland Advisor Calls Cryptocurrencies an “Illusion,” States Distributed Ledgers Are Irrelevant

Category: Adoption, Bitcoin, Blockchain, Commentary, Finance, News

Bank of Finland Advisor Calls Cryptocurrencies an “Illusion,” States Distributed Ledgers Are Irrelevant

In line with strict global sentiments over cryptocurrencies, an advisor to the Bank of Finland (BoF) released a report in June 2018 titled “The Great Illusion of Cryptocurrencies,” elaborating on why cryptocurrencies are a “fallacy” and an “illusion” of money. Blockchain Payment Systems “Irrelevant” Written by BoF’s Adviser on Digitalization and Head of the Digital Central Bank, Aleksi Grym, the…

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What Do Free Markets Advocates Think About Bitcoin?

Category: Bitcoin, Blockchain, Commentary, Finance, News, Tech

What Do Free Markets Advocates Think About Bitcoin?

What libertarians, anarcho-capitalists, and proponents of the Austrian school of economics, all have in common is their love for free markets and disdain for state intervention. Many evangelists of these schools of thought have thus publicly praised decentralized digital currencies, such as bitcoin, as they provide individuals with personal financial sovereignty and allows them to store their wealth in an…

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Central Bank of Norway to Develop Digital Currency Following Decline in Cash Usage

Category: Altcoins, Finance, News, Regulation

Central Bank of Norway to Develop Digital Currency Following Decline in Cash Usage

Prompted by the decline in cash usage, Norges Bank, a central financial institution of Norway, is looking forward to developing its own cryptocurrency. As per Norges Bank’s recent report, dubbed the “Central Bank Digital Currency”(CBDC), plans to act as an alternative to fiat currency to “ensure confidence in money and monetary system.” Other central banks are also analyzing the possibility…

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Australian Government Set to Ban Cash Transactions Over $10,000, an Opening for Cryptocurrencies

Category: Business, Commentary, Finance, News, Regulation

Australian Government Set to Ban Cash Transactions Over $10,000, an Opening for Cryptocurrencies

The Australian government is looking to curb money laundering practices by introducing cash payment limits. In the May 8, 2018, federal budget unveiling, authorities made clear their intentions to tackle this menace by making it illegal to carry out cash payments exceeding $10,000. The new cash limit could also encourage the use of cryptocurrencies in the country. $50 Billion of…

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Can Bitcoin Exist Without Trust?

Category: Bitcoin, Commentary, Finance, News, Regulation, Tech

Can Bitcoin Exist Without Trust?

In an individualistic commodity society, there are no relationships of solidarity that protect you against uncertainty. The existence of a person in such a community depends only on his ability to acquire (buy) the things he needs on the market. For this reason, individuals are looking for an item that would give them an opportunity to purchase any product in…

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Pawn Shops in Ukraine Set to Start Accepting Cryptocurrencies as Loan Security

Category: Altcoins, Bitcoin, Blockchain, Finance, News

Pawn Shops in Ukraine Set to Start Accepting Cryptocurrencies as Loan Security

Networks of pawnshops in Ukraine are tired of standing on the sidelines watching crypto take over the world. These money lenders have decided to join the blockchain money spaceship to the moon. Crypto Collateral Loan offices in Ukraine are creating a unique lending service targeted at crypto holders. Borrowers will soon be able to get loans in fiat currency equivalents…

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Two Futurists Believe Cryptocurrencies Will Replace National Currencies in 2030

Category: Altcoins, Bitcoin, Commentary, News, Tech

Two Futurists Believe Cryptocurrencies Will Replace National Currencies in 2030

Ever since bitcoin first came to the fore nearly a decade ago, futurists have been fascinated as to what the future may look like if cryptocurrencies are adopted on a mass scale. Convincing a New Generation of Investor For the general public, they may not have much of a grasp as to the many benefits and pitfalls associated with cryptocurrencies….

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Is Wells Fargo Developing A Digital Currency Wall?

Category: Altcoins, Bitcoin, Finance, News

Is Wells Fargo Developing A Digital Currency Wall?

On April 6, two cryptocurrency companies filed a California federal suit against Wells Fargo saying that the megabank is essentially preventing their customers from accessing their money, an estimated $180 million in deposits. iFinex Inc. and Tether Ltd. allege that Wells Fargo recently prevented wire transfers from a number of Taiwanese banks relative to accounts containing their customer funds. This…

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Can Cryptocurrencies Fix A Broken Monetary System?

Category: Altcoins, Bitcoin, Commentary, News

Can Cryptocurrencies Fix A Broken Monetary System?

Let us take a step back from the madness of the COIN ETF, the BU vs. SegWit battle, the transaction crisis and take a look at an interesting report entitled “MONEY, MONEY, MON€Y: Attitudes Toward Credit, Consumption, and Cryptocurrency” and what is driving the adoption of cryptocurrencies. To do this, we have to first look at money in general. Money…

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Nomura Identifies Loss of Faith in Fiat as Grey Swan Catapulting Cryptocurrency

Category: Altcoins, Bitcoin, Business, News

Nomura Identifies Loss of Faith in Fiat as Grey Swan Catapulting Cryptocurrency

In a recent article published by Dagens Næringsliv discussing the financial market ‘Grey Swans’ for 2017 compiled by Nomura Holdings, a prominent Japanese investment bank, “a breakthrough for digital currencies” made the list, based on a scenario of a widespread loss of faith in fiat currency. With the market being thrown off guard by the unexpected occurrence of Brexit as…

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